Alphabet Inc. (NASDAQ:GOOG) is Citadel Investment Advisory Inc.’s 5th Largest Position

Citadel Investment Advisory Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.3% in the 4th quarter, Holdings Channel reports. The firm owned 30,115 shares of the information services provider’s stock after selling 715 shares during the period. Alphabet accounts for approximately 3.0% of Citadel Investment Advisory Inc.’s portfolio, making the stock its 5th largest position. Citadel Investment Advisory Inc.’s holdings in Alphabet were worth $5,735,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GOOG. Weiss Asset Management LP purchased a new stake in Alphabet in the 3rd quarter valued at $25,000. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the 4th quarter valued at $27,000. Safe Harbor Fiduciary LLC purchased a new stake in Alphabet in the 3rd quarter valued at $33,000. Sanctuary Wealth Management L.L.C. grew its holdings in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC grew its holdings in Alphabet by 32.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after buying an additional 84 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Down 6.9 %

Shares of NASDAQ GOOG opened at $193.30 on Thursday. The stock has a market cap of $2.37 trillion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.32 and a beta of 1.00. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $208.70. The business has a 50-day moving average price of $191.88 and a 200 day moving average price of $175.91.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Equities research analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. JPMorgan Chase & Co. upped their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Citigroup upped their price target on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Barclays upped their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,529 shares of company stock valued at $16,600,078. 12.99% of the stock is owned by company insiders.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.